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within the republican party, and once that 113th convenes the president can institute obama tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there when it comes to talking about entitlements, or earned benefits as progressives like to refer to it, what is the way that the president and those on the left can look and also appear to the right to be willing to compromise? what can they put on the table, if anything? >> well, i just don't think that any of us think that it is a reasonable idea to over the course of the next week and a half, over the course of the holiday season, for the president and this congress, which is a lame duck congress, to engage
raise tax revenue by not extending the current obama cut in payroll taxes. but the republican plan still refuses to raise the top income tax rates. yesterday, treasury secretary tim geithner made it clear that there can be no deal without higher top tax rates. >> last question, can you promise that we will not go over the cliff? >> no, i can't promise that. that's a decision that lies in the hands of the republicans that are now opposing increases in tax rates. if they recognize the reality that we can't afford to extend those tax rates, then we have a basis for the agreement and that's going to be the responsible thing to do and my judgment is they are going to do it. >> joining me now, ezra klein, huffington post, ryan grim. ezra, what do you make of the boehner proposal that was kind of cribbed from erskine bowles? >> two things. one, republicans are terrified about by the polls showing that they are going to immediately get blamed if they are not willing to compromise. the reason you initiate the bowles' plan is you say, look, they are going along with the former chief of staff said.
in washington? >>> president obama presses the case for tax hikes on the rich, and the tax cut extension for the middle class, now. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> but republicans aren't budging, accusing the president of avoiding tough choices on spending and wasting time in the effort to avoid the fiscal cliff. >> it's not a serious proposal. and so right now, we're almost nowhere. >> will there be a deal by the end of the year? and what are the consequences for the economy if there isn't one? we'll ask the president's lead budget negotiator, treasury secretary tim geithner. >>> then the view from capitol hill. are democrats as divided over cutting medicare as republicans are over tax increases? with us, two voices calling for compromise. republican senator bob corker of tennessee and democratic senator claire mccaskill of missouri. >>> finally, our special economic roundtable. as both sides battle over the nation's fiscal health, what can we expect from the economy in a second obama term? w
spending cuts. republicans realize -- >> they offer, i think obama is offering $500 million -- [ overtalk ] >> dana: critical count -- >> eric: the democrats realize that they have to touch spending if they want the 2%. >> brian: i want the power to raise the debt ceiling without asking you. >> dana: triple count cuts that were made. to get credit. wants to get credit for cutting things that were already cut in the past. his budget could not get a single vote in the senate. maybe they should bring the president's budget up again to see if it has more support. >> andrea: i want to ask about the tax rates. we learn the top 1% averaged 23% tax rate, while filers in the bottom 50% average a tax rate of 2%. a lot of people don't like to get george bush credit. he took poor people off the roles. >> bob: first, myself, i have given bush credit for doing that. in every tax bill we have. the wealthiest people in america continue to get cuts, cut, cuts. why do we have income disparity in country? rich getting richer. >> andrea: how are they getting cuts? >> eric: because -- >> bob: i told you. reag
. with real cuts. obama was supposed to gave speech where he would respond with a counter offer. what did he do? he gave a speech with ryan on the front row. he called the ryan proposal un-american, insulted him. offered nothing and ran on mediscare in the next 18 mont months. they expect the republicans will do this again? republicans will walk on this. i think they have leverage. yes, for congressional democrats it will help them in the future if the republicans absorb the blame because we will have a recession. obama is not running again unlike the congressional democrats. he is going to have a recession. 90% unemployment, 2 million more unemployed. second term that will be a ruin. that is not a good proposition if you are barack obama. >> bret: before you respond to that, a.b., there is one thing that speaker boehner talked about today, leverage wise. that is tying the debt ceiling limit to this entire deal. and the white house reacting. >> there is a lot of things i wanted in my life, but almost all of them had a price tag attached to them. if we talk about the debt limit, there will be
furious at relief response and president obama. >> president obama, he said he was going to cut through the red tape. he lied. he says, what do you mean? i said you lied. (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you can send money directly to anyone's checking account. i guess he's a kicker... again, again! oh, no you don't! take a step forward and chase what matters. >>. >> heather: two people have died after a bus crash in florida. the doubling decker was carrying 32 members of a church group when it slammed in an overpass. >> people in wyoming say the man involved in a deadly attacks yesterday used a bow and arrow in one of killings. authorities say this christopher krum first stabbed a woman on friday and then went to the college where his father was teaching and shot him with a bow and arrow. he later stabbed and killed himself. >> more than hundred people are waiting to return to home after a train derailment after toxic gas was found leaking in the neighborhood. >> gregg: anger appears to be boiling over a
obama offered up cuts in the -- cuts in the tax increases that helped bring the deficit in the first place but he's already clocked out around $2 trillion in spending cuts and interest decreases over the next ten years. now, as we know, the republicans have run and beaten the democrats on this idea that they're going to cut things, that they're going to find waste and eliminate it. well guys, now is your chance! step up to the microphone. what exactly are the cuts? it is funny. we're not hearing anything from these guys after they talked about it for so long. >> stephanie: exactly. that's what the white house is saying. the ball is in the republican's court. we're four weeks from the slope hill ramp. boehner -- republicans have a plan for providing as much as $800 billion in new government revenue over the next decade and we considered the elimination of tax deductions on high-income earners but when pressed for details, he declined to say. >> we've got a plan but i can't explain it to you because you wo
: i have a question for you. i heard president obama is making cuts to medicare if his plan goes through. he wants to cut $400 billion in entitlements. i collect ssdi. i am disabled. these $40 billion cuts in entitlements, are they going to affect ssi, ssdi? guest: we do not know what the administration is talking about yet. that offer came from the administration on the hill yesterday. it was not specific. $400 billion is what we are looking at in entitlement savings and we're not sure if it is ssdi or how beneficiaries would be affected. host: children make up a lot of these credits. which of these are affected by the amount of children you have? guest: some of them do matter. the eitc, there was a law that allowed you to climate for more than three children. that could go away by the end of the year. host: the earned income tax credit specifically. mary from kentucky on the republican line. caller: good morning. we are small business owners. with many of these taxes going up and there are proposals in kentucky to raise some of our state taxes because we have deficits and pensi
't the better alternative which is to see all the tax cuts he e s expire? >> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would just rather have everyone's tax -- i'm shock that that would be the end result. >> harry reid would rather have it his way or nobody's way? >> no, i'm saying you can negotiate in these flex three weeks about this package of tax cuts. >> i don't mean this to be directed towards you -- >> but here it comes. >> -- no, i'm just saying generally, there is such an arrogance in the media since the president won. they think that these house republicans are -- >> have nothing to say. >> -- have absolutely nothing to say. >> i do agree with that. or nothing of value. >> they act
? they attack him. for the entire campaign all we heard about was how obama wanted to cut medicare. so which is it? i it he cut too much or he doesn't cut anything? and where is there offer? if they say they are the party of cutting spending stop talking about the democrats, make an offer. >> mitch mcconnell is out there every single day saying these are the entitlement changes that i think make sense and would get us to a deal. raising the retirement age, dealing with change the inflation formula so the programs aren't spending so much out over time. if president obama is interested in reforming entitlements which he says he is but he never specifies what it would be. all he has to do is call up mitch mcconnell and say i think these are good ideas, let's sit down and they would happen. republicans would take those immediately. >> that's how you think republicans should lead, they should wait for a call from the president? not go on tv but make an actual offer? >> specific changes on entitlements. if the president is in favor of changing entitlements, all he has to do is say i agree these ar
? we've just had an election. the people had a choice between mitt romney and president obama who said let's have a balanced plan, and let's give tax cuts to the middle class. what is he talking about? this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are saying please, please, tax us fairly. and here's the point. the president is saying to the millionaires and billionaires, we're just taking you back to the tax rates that you had when bill clinton was president. and i would like to remind everybody, we had the greatest prosperity then when everyone paid their fair share. 23 million new jobs. and why is it? because the middle class had the money to spend out there, to stimulate this economy. it's a consumer-driven economy. about 70% of the economy is consumer driven. and the
, they are living up to their moniker. and here is the thing. i love hearing martin frost and president obama going out will an defending the bush tax cut. they criticize president bush on one side. but then they are out there saying that the tax cut by an large are needed to get the economy to grow. for martin frost -- >> i isn't say that. matt, i did not say that. i said -- >> well, hold on for you to say that president obama won the election. remember you sat in the house of representatives for many years and republicans controlled that house. when democrats controlled that house, they flex their muscles. the republicans in the house have a constitutional obligation to make sure we get a fair compromise. speaker boehner wants that. that is what he is fighting for. >> i think the president does, too. and the republicans can't expect that after he was re-elected on the basis that the rich get to pay a little bit more that the president -- >> i didn't mean that. i didn't mean that. >> eric: okay. prediction, end it there. prediction we won't be going over the fiscal cliff. >> i think we will not go
of president obama's plan to cut fiscal spending, invite someone for lunch and have us pick up the tab. >> we're all picking up the tab for that lunch. >> that's right. >>> "early start" continues right now. >> suddenly rich. so far we know of two winning tickets for the record-breaking powerball jackpot. >> lunch date, mitt romney meeting with president obama. >> and only in new york. a zebra hot on the heels of a pony in new york city. >> never thought about hot on the heels of a pony. okay. >> i'm christine romans. >> i'm zoraida sambolin. >> in egypt the u.s. embassy in cairo is closed. no one is being allowed in or out of the embassy now. embassy officials say the entrance is blocked by protesters as clashes erupt nearby. massive demonstrations against president morsy threatened the new young government after a degree last week extending his powers to an e uneasy level for some egyptians. americans in cairo going to the embassy for business, please don't. no one is going in or out of the embassy in cairo. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff neg
expect those cuts to be made. given the obama victory on november 6th, democrats sense they have somewhat of a mandate to increase taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money. i'm not fixing the problem by solving the problem, and providing the benefits that people need. >> reporter: cutting spending and attending to constituent needs are often very much in conflict, jenna. jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the f
obama and really american people don't want to see middle class americans pay additional 2000 in taxes n which is what will happen in addition to cuts to programs . we want to cut and the american people want to see cut. there is it a few things. first more americans would blame the republicans and not president obama if we went off of the fiscal cliff. that is a motivation. >> brian: yeah. >> gretchen: ron, why do they feel that way? >> brian:ip totally agree with you. looking at polls and say republicans will get blamed and so why not runuss off of the cliff. >> republicans should have their own plan. the majority of americans in exit polls have said we should balance and ask the wealthiest to pay more. >> gretchen: wait, wait, wait, wait, wait. ron. that's not true. nothing is going to be balanced with talks that i heard about. >> brian: absolutely not. >> the only pending cuts is for war spending and stan tan and iraq. >> that is six billion in health care. >> we need more to save our generation and we shouldn't tax people give our generation jobs. can i please talk about how our gen
. it is a matter of how you do it. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise revenue. we have to cut spending. we have to get on a more solid path. there will be a cost to it. the other problem is, you know, to your point, when you talk about, let's say you use the word tax reform, what does that mean, they will deal with either the mortgage deduction, the charitable deduction or the state tax deduction. think about how that affects the behavior of individuals. that is all coming down the road. that will come and it talked about exterior. it really affects people's behavior. connell: robert, always great stuff. thank you. we do have a little piece of breaking news that wave want to pass along. lottery officials are telling us that the mechanic and his wife are the missouri win
nothing to offer besides the same tax cut mantra and demonization of obama that won't work anymore. >> we all remember mr. romney's explanation for why he lost. you know, you can't beat free stuff was his excuse in a nutshell. mr. stevens was asked about those comments this morning. take a listen, bob. >> we have the governor speaking about the fact that the obama campaign paid its voters and certainly its lower income voters. that seems to me a bit sour grapes. >> i don't think that's what he was saying. they had certain groups they wanted to do well with, and they did well with. >> but where is theed a admissi from mr. romney or mr. stevens or republican that they many a nasty, mean-spirited campaign that deserved the thumping it received? >> you're not going to get that and, you know, i have met stuart. he's not a friend of mine, but you read the piece he wrote in "the washington post," you listen to what he said, you say no wonder romney make. the arguments he's making are fantasy and they're pernicious. he says crazy things like no one in washington, in the washington green room, eve
cliff on new year's day. that would mean automatic spending cuts and the expiration of tax cuts for most americans. president obama sent his top negotiator to the treasury secretary. tim geithner to capitol hill today. he met with leaders of both parties. republicans say they made no progress. and surprise, each party blames the other. >> the democrats have yet to get serious about real spending cuts. and, secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we have said it, we have said it, we have said it so many times the president said the same thing. it's been weeks, at least two weeks since we met at the white house and are still waiting for a serious offer from the republics. >> shepard: after his meeting with secretary geithner the senate minority leader mitch mcconnell said of administration officials quote today they took a step backward moving away from consensus and closer to that cliff. ed henry is live at the white house for us tonight. ed we are getting new informatio
it as well. >>> from there to washington, and new today president obama taking his message directly to the public amid the fierce fiscal cliff fight. after holding a campaign-like stop in pennsylvania friday, the president today is urging congress to extend middle class tax cuts in his weekly address. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. >> the gop is also out today with new criticism of the president's plan. here's republican senator orrin hatch of utah. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending. and an unlimited, unchecked authority to borrow from the chinese. maybe i missed it, but i don't recall him asking for any of that during the presidential campaign. >> j
of the deal we do what obama ran on on the tax cuts, on the tax increases and we're going to study the future spending cuts? isn't that the face-saving way out? >> it's tax reform, part of that conversation in the background. but i think simpson-bowles is more of a way out for the gop than some folks may think. i think generally the public, conservatives included, like the ideas that are enunciated in the plan. i think certainly more conservative members in the house and the senate have spoken favorably of it. it gives you a framework to begin the conversation and i was surprised that neither the president nor mitt romney actually took that as sort of a bull whip to kind of shape the argument. >> talking like that, that's why you referred to as former republican connection. >> there's a funny kind of -- there's an interesting, you know, i don't know, third option. i don't think it will come to this but there's sort of, you know, let's say we go over the cliff. the republicans do not -- they hold firm. we go over the cliff, then we'll no doubt reinstate the tack cuts of the middle class so the
owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a live interview with on
americans sent us to do. >> you mentioned the fiscal cliff and i want to ask you about it. president obama even in his p - proposal yesterday had entitlement cuts including to medicare. you have in the past been resistant to cutting entit entitlements. does the result of the election -- i've heard many people on the democratic side say, look, we won. we don't need to make concess n concessions to republicans on entitlements. we can raise the top rates without making these concessions. do you think the president is even in this first proposal giving away too much on the entitlement side? >> i think it's important to note that there's a difference between working to cut medicare and protecting the benefits. and itch said repeatedly that i will not vote to cut the benefits people have earned and depend on because they put those benefits into place, one, this in the middle of a depression, social security, and the other one, medicare, because they were needed. republicans and democrats recognized they needed these programs because people got old and people got sick and they still do. so i wi
president obama than the one we saw during the debt ceiling negotiations or even after the midterm elections in 2010 when he felt a little weakened and there was the extension of those bush tax cuts for the wealthy. so i think when you're seeing here is a president who put this on the table, trying to please his base, okay? which got him elected after all. saying, this is my wish list, this is in a perfect world, this is what i would do. i don't think anyone at the white house expected the republicans to say, oh, thank you mr. president, yes, this looks lovely. let's go on and work on a deal. no, that's not what it was. the white house -- this is alfonse gaston a little bit here. and so they're waiting for the republican response. and what they're really talking about, brooke, is getting some kind of a first step. a down payment. ironically they all know what -- in the big picture needs to be done. they know you have to fix entitlements, do something on the tax side, but they're trying to figure out how to get from here to there. >> and let's just stop there, because let's say the white hous
, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last couple of days the nasdaq has managed to move into positive territory for the month of november, back above 3,000. today one of the biggest movers is research in motion getting an upgrade at goldman sachs. one of the firms that sees them perhaps getting some traction with the blackberry 10 rollout in 2013. apple up today as well, up more than 1%. look what's happened this month. nasdaq composite has moved up without the help of apple. apple on track for the third straight monthly loss. what's really made the
. thank you. gerri: as a reminder, the revenue from the bush tax cuts would generate just $82.4 billion a year, enough to run the government for ve days. as president obama pushes for tax hikes on wealthier americans, he might look to britain to see the effect it has. it's not revenues. it's surprisingly less. after the labour par, that is, there, pushed for the top tax rate to 50%, 5-0, the richest ft. two-thirds left to avoid paying the new tax. it also stopped people coming to and investing in britain. there's a lesson for you. turns out the proof is in the pudding realizing the errors of the way, the government is cutting the top rate to 45%. more to ce like should washington sub di size wind energy? more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. hope it doesn't, but i'm going to break it down next. ♪ gerri: i always like to give you the straight poop on everything, and, today, i'm concerned about the fiscal cliff. in the past two days, two very well-connected professional money managers have spoken to me about their trepidation their clie
it in the fact that president obama's out there campaigning instead of sitting down with john boehner, running around pushing for a bill to increase -- extend just the middle class tax cuts which he knows republicans will never do. you can see it in the fact that 33 senate democrats signed this letter which says, quote, we will oppose including social security cuts for current or future pen fisheries in any -- beneficiaries at any time. that's signed by harry reid. senator durbin giving a speech saying no touching medicare or medicaid in any year end package. so, basically, the democratic position is no changes to social security, no changes to medicare, no changes to medicaid, yet the mainstream media all you hear is three words: grover, grover, grover. all you hear is about republican intransigence on taxes. where are the stories about democratic intransigence on entitlements? it seems to me that what they want to do is go off the fiscal cliff, pocket the increase on the wealthy, the tax increase on the wealthy, and blame republicans for the middle class tax increases. and if that's what the
middle income tax cut to the floor. >> reporter: later on today president obama will say that any deal reached in congress must include increased tax rates on the wealthiest americans. he will say that at a factory in hatfield, pennsylvania, where the company connects, makes tinker toys. that is company the white house picked for today's event because they rely on the middle class consumers who would be affected if we go off the fiscal cliff. martha. martha: that will be a major sticking point it sounds like. peter, thank you very much. bill: so what happens if your taxes or to your taxes if lawmakers don't strike a deal? the tax policy center says that 90% of the americans would see a tax hike next year in 2013. it says 121 million americans will be paying more in payroll taxes, and families making between 40 and $65,000 a year, will pay an extra $2,000 to the government. that starts in 2013. martha: some say that they're concerned that what happens in europe could also happen here down the road. look at europe's economy down the road. 11.7% unemployment. that is another record high i
class tax cuts. probably didn't hurt that the cofounder of costco was a big obama contributor. before he left, he used the phone of his cart driver, ivy student, to call her grandmother and leave a message. ivy was so moved but the whole experience, she wiped away tears. >> thanks for shopping with me and i know you won't tell anybody what i bought for christmas. >> here's a hint from nat king cole's classic. the "huffington post" held a caption contest for joe biden's checkout photo. our favorite, stopped by for some fire logs. went home with a flag screen tv. 32 inches. jeanne moos, cnn. ♪ new york. >> we should take cameras around when you do your holiday shopping. you do like costco. way too many products for me. i can't do it. that's right. big news for you. this just in. the missouri lottery will announce the winners of last night's record $578.5 million jackpot tomorrow. those winners will be splitting the jackpot with a ticketholder in arizona. that person has not yet come forward. last night's prize is a largest in power ball history and yes, wolf blitzer flew to missouri over
the problems. good to have you both with us. thanks for joining us. seth, president obama's plan is advocating tax increases but almost no net spending cuts. how do you resolve this crisis without cutting spending significantly? >> well, i don't think that's true at all. there's substantial spending cuts. i mean, first of all, we've already cut spending by $1.5 trillion as part of the first part of this deficit reduction framework. also in his offer is another $400 billion in cuts, targeted cuts to health care programs. i really think that we shouldn't, like you said, take the knife to fundamental programs like medicare and social security. the president's plan is the plan he presented to the american people and won the election on. certainly, the plans they would cut or fundamentally restructure medicare, those proposals -- >> i don't think that's what we're talking about, seth. >> does that do anything to the debt? >> that's a great question, maria. that's the biggest challenge with this proposal that the president put out. he's actually talking about new spending. additional payroll benefit
, or saying just that. they are threatening to cut off the palestinian funding. $500 million because of this. from your view, susan rice and the obama administration did what? >> guest: well, i think they gave up the most potent weapon that the united states has. the financial weapon. in almost any case that matters to us in the general assembly, we're going to be out-voted unless we're prepared to use the financial weapon. that runs contrary to every multilateralist instinct of the obama white house. they paid a price for it. israel paid a price for it, too. >> eric: why is it seemingly one-sided? i remember when you voted against the human rights council. nine votes against it. us. canada, czech republic, israel, marshall islands, macronesia, palau and nairu. they seem to be the steadfastest allies at the u.n., palau and nairu. >> guest: this demonstrates the permanent anti-israel, anti-american majority in the u.n. it will be broken only by strong measures by the united states. the irony is for those who are strong supporters of the united nations, this resolution dramatically undercuts t
the disastrous combination of tax rate increases and spending cuts now known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%. quote, president obama signalled he wouldn'tnsist tax rates on upper income americans rise to clinton era peaks as part of a deficit reduction deal. the white house's flexibility first described by democrat erskine bowles after meetings with mr. obama and others confirmed by administration officials could envision tax rates increase from their current levels but less than clinton era levels. would you agree to a deal, senator? call it in the middle. 37%. >> well, the problem with that is raising those tax rates on those folks really doesn't address the m
. you remember wimpy, popeye's friend, i'll gladly pay you tuesday for a hamburger today, and obama would gladly agree to spending cuts later for tax increases now. republicans have been rolling over on these kinds of deals since as long as i've been able to remember. since i was in garanimals with reagan and tip o'neill and the democrats then were promising spending cuts that never came, through george bush and george mitchell who came away from a similar deal with a big smirk on his face and no spending cuts. i think it's about time republicans stop rolling over and falling for these deals. please, because why do we have a republican party if they don't say no? >> steve: sure. and we've been talking about how the atmosphere on capitol hill officially with the big negotiators has been kind of gloomy. politico, the lefty blog, says that inside the talks with the people who are doing a lot of talks, contours of a deal including the size of tax hikes and spending cuts, it will contain are starting to take shape. so it does sound like even though both sides are still strident in what t
somewhere north of $1 trillion which is basically the difference between boehner's position and obama's position. it includes medicare cuts, entitlement cuts that are at least $400 billion. remember dick durbin on your show earlier in the week put that $400 billion marker down. democrats privately tell us they'll go higher, perhaps much higher if republicans get serious on raising taxes. they'll cut spending by about $1.2 trillion, which is the total of sequestration. and they'll probably have to throw in a debt limit increase to avoid hitting that in february. people involved in the talks feel like they can get there. there's no doubt it's going to take some time, boehner has to get republicans more comfortable with raising taxes including raising rates. i don't think there's a scenario where the rates don't go up on people making over $250,000. and democrats have to get more comfortable with entitlement changes. but at the end of the day, obama can deliver democrats. and i think boehner's stronger today than he was three months ago, and he could deliver more republicans than he coul
but only 71 with enough swag to make the cut. here's the top ten led by the second-year running, president barack obama. the highest ranking female, angela merkel. then mr. putin of russia. bill gates, pope benedict, ben bernanke, saudi king. more on how the list was assembled and other details, forbes media ceo, mike, thanks for being with us. >> this is important to us because nothing personifies what we do at forbes like our power list. we're about success and the impact of people who achieve success have. we have ten editors who get together. we draw on a huge bank -- >> they always agree on everything. don't they? >> exactly. there is some subjectivity, i must admit. they talk about the number of people that someone influences. the amount of financial resources that they have. how many spheres they operate in, are they just financial or are tle political or philanthropic. the fourth criteria is do they act on their power, do they use their power. and if you look at -- >> that's the reason why bill gates would rank so high here is how he has used some of his financial power in the phil
pass a bill extending the tax cuts for the upper income groups. let it fail in the senate and then obama owns this economy and then 2014, larry, we've been around a long time, 2014 is not that far away, and then we take the country back and provide the prosperity that these guys have deprived us of and that's what's really necessary. but it's crazy. >> art laffer, thank you very much. now, why are conservatives being purged by the republican leadership? this is a most peculiar and damaging story. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. t
are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a hard line, warning his opponents not to consider this strategy. >> if congress in any way suggests that they're going to tie negotiations to dell creting votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history until we did it last year, i will not play that game. >> well, i wonder, the president's saying, steve, that, you know what, we can raise rates now and maybe lower them later next year so republicans are now saying we can raise rates now. maybe we'll lower them later and we'll talk about it during the debt ceiling. now he's saying no, we're not going to talk about it then either. when would we have this debate when we were renaming post offices in july? can you clarify something for people that are watching? republicans are talking about raising taxes on
support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay the bills. she has been what a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more than 2 million people out of work more than 26 weeks. many of the unemployed started receiving the news this week from
that obama has a certain respect. obama is not a businessman. he is an idea log. i think by him doing something to reach out to mitt romney other than a turkey chili lunch, whatever. neil: they had cold cuts. >> and cold cuts. >> i'm thinking like salmon or something elegant, are you going to eat that. >> yeah, look at my office that you do not get, and how about a coil cut. neil: did you see that? like, looky there what do you think of the color scheme, not up to you. >> track records speak for themselves, mitt romney has a track record of great things. neil: look at, that. >> in oval offers. >> romney just within inches of the desk. >> when i worked for giuliani, romney was running, he has been running for a long time. neil: do you think he runs again. >> i do not. neil: who do the think? >> 2016 rubio, and chris christie, a lot of people that a lot of big donors begged to run. neil: tom you are running? >> not yet. >> talk to me. >> when he come back, we have a ton of twitter followers, count john mccain, as one of them. we'lhe tweeted at me about me tt created a sensation.
at the issue of the payroll tax cut. kim dixon, when did the payroll tax cuts issue come into effect? guest: about two years ago at this time. expiration of the bush-era tax cuts that began in 2001 were set to expire. republicans control the house. president obama wanted to continue them for everybody except those in the top 2% tax rate. --wasn't ended the year deal it was an end-of-the-year deal. the obama administration was looking for the stimulus measure. they thought it would be hard for republicans to oppose a tax cuts. host: the money rigidly was going where -- the money originally was going where? guest: going to the social security trust >> we take you live now to the u.s. capitol and house speaker john boehner. >> the president has warned us about the dangers of going over the fiscal cliff. but his actions have not matched his public statements. momings of his own party seem quite comfortable on sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today i would say two things. first, despite the
. president obama laid out his plan. $1.6 trillion and taxes on the rich and $400 billion in cuts. republicans say they're, well, flabbergasted. and today grover norquist, who is against any tax increase, has an idea. if you want to know who's negotiating in good faith, put it on tv. >> it's the president who's threatening to raise taxes on the middle class if he doesn't stomp his feet and fwet his way. he should get into a room with c-span cameras there so instead of hearing rhetoric like this, let's hear it in front of c-span cameras. if the republicans being reasonable, we'll see that. if they're not, we'll see that. got to have cameras in that room. >> i personally love c-span as do cnn contributors l.z. granderson and will cain. welcome to both of you. let's start there. i would love to watch the negotiations in realtime. does mr. norquist have a dandy idea, l.z.? >> i don't think so. i really don't. i mean, how many people are watching c-span now? that's not the bash c-span. it's not as if this negotiation is going to last 45 minutes with 18 minutes of commercials. it's going to last for
in the band. obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situation where i think it was kennedy who always said don't let the perfect be the enemy of the good. they were in a much better bargaining position then than they are how. that's when 3 to 1 was still on the table. >> you can't get through it house. >> yes, but the conversation has changed. and you hear republicans who have even changed. >> one guy, cole. ron johnson will tell you it has not moved. >> there are a lot of republicans signaling, yes, they think the highest income rate will go up. >> but if you can't get through the house -- a lot of people now that think and i heard it the other night that if you give the deductions now, that they'll just do rates next year. so you might as well give rates now. >> although maybe buffett was right when he talked to us yesterday and said you can have some sort of agreement that looks reasonable f
" supports they have more support than the rank and file before, in fact, giving him flexibility to cut a fiscal cliff deal. the first read team is asking the question how big of a deal will we see? governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male
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